Star Diamond ( (TSE:DIAM) ) has issued an announcement.
Star Diamond Corporation has announced the closing of the first tranche of its non-brokered private placement, raising C$335,000 through convertible debentures. These debentures offer an 8% annual interest rate and can be converted into common shares under certain conditions. The company plans to close a second tranche by the end of February 2025, aiming to raise an additional C$165,000. Proceeds from this offering will be utilized for working capital as the company seeks investors for a pre-feasibility study on their Fort à la Corne kimberlites project. The transaction also involved the issuance of 16,750,000 share purchase warrants and included a related party transaction with the CEO purchasing C$25,000 of debentures.
More about Star Diamond
Star Diamond Corporation operates in the mining industry, focusing on the exploration and development of diamond resources. The company is particularly involved with projects related to the Fort à la Corne kimberlites in Saskatchewan, Canada.
YTD Price Performance: 170.0%
Average Trading Volume: 104,544
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $17.4M
For an in-depth examination of DIAM stock, go to TipRanks’ Stock Analysis page.